Cardano's (ADA) price has remained steady at $0.22 as it attempts to break above the 21-day SMA barrier or the $0.29 resistance level.
ADA price long-term forecast: bearishSince February 14, buyers have made concerted efforts to keep the price above the 21-day SMA barrier. If buyers maintain the price above the 21-day SMA barrier, the altcoin will rise to a high of $0.34 or the 50-day SMA.
Technical IndicatorKey Resistance Zones: $1.20, $1.30, and $1.40
Key Support Zones: $0.90, $0.80, and $0.70
Cardano price indicators analysisThe moving average lines are sloping downwards. The crypto price bars are retesting the 21-day SMA barrier, which acts as the resistance line. On the 4-hour chart, the price bars are trending upwards but have dropped between the moving average lines.
Currently, the price is trapped between the moving average lines. The price has fluctuated above the 21-day SMA support before falling below it.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.
